Lending Stream is a direct lender specializing in short-term loans, catering primarily to those who might find it challenging to obtain credit from conventional banks. They allow new customers to borrow between £50 to £800, while existing customers can access up to £1,500. The approval process is remarkably swift, often taking just minutes, which can be a boon for anyone facing urgent financial needs. However, potential borrowers should be aware of the exorbitantly high APRs, ranging from 99.9% to a staggering 1333%, with a representative APR of 1271%. This means that, for example, borrowing £300 for six months could result in total repayments of £578.36.

Such rates can make short-term borrowing a costly venture, especially if payments are missed or extended. On the positive side, Lending Stream is FCA regulated, and they consider applicants with bad credit, making them an accessible option for many. With over 900,000 customers served and a high Trustpilot rating of 4.9 out of 5 from more than 30,000 reviews, they have established a reputation for reliability. However, it's crucial to enter into such agreements with a clear understanding of the repayment terms and potential financial implications. Compared to alternatives like credit unions or peer-to-peer lending platforms, which often offer lower rates, Lending Stream might not be the best choice for those who can explore other options.